Class 8 Used Truck Sales Rise in Typically Slow January

Key Details Used Class 8 truck sales defied seasonal expectations in January, climbing 5.5% year-over-year to 24,900 units, according to ACT Research. Prices fell 3.5% to an average of $55,308, while average mileage decreased slightly to 411,000 miles. Sequential gains also came in at 5.5%, a positive sign during what is historically the second weakest sales month of the year. Market Cooling Signals While used truck sales improved, broader market indicators showed weakness. Auction volumes plummeted 56% month-to-month in typical January fashion, and wholesale dealer activity dropped 10%. Steve Tam, ACT Research vice president, noted the seasonal pattern but acknowledged broader softness across channels. Financing Headwinds Truck financing remains constrained. Mission Financial Services reports stagnant activity across multiple regions, with many applications failing qualification standards. Charles Smith, the company's regional business development manager, cited tight credit conditions and a lack of experience among newer drivers, particularly those who entered trucking during the pandemic freight surge. Qualification Barriers Mission Financial requires minimum three years of verifiable driving experience, automatically disqualifying many recent industry entrants. Many pandemic-era drivers overpaid for equipment before freight demand and prices normalized, creating financial challenges that continue rippling through the market.